Bonds
Deerfield Academy Is Raising $89 Million to Build a Dining Hall
- Deerfield Academy cites ‘traditional sit-down meal experience’
- Acceptance rate is 12%; 24% of seniors went on to Ivy League
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An elite Massachusetts prep school is tapping the municipal bond market next week in order to renovate its dining hall.
The Massachusetts Development Finance Agency is selling the $88.5 million revenue bond issue for Deerfield Academy, a deal that will double the school’s debt load. The new dining facility “supports the Academy’s traditional sit-down meal experience, which is unique in this day and age,” according to the bond offering documents.